Who Cares About Compensation?

Compensation Cafe

What if you worked in an organization where the Head of Human Resources didn't view the Compensation function as vitally important to the organization? We weren't invited to critical HR planning sessions, my boss was never a member of the inner HR circle, and the department's list of annual objectives never included a compensation project. So What's Wrong With Compensation? It is unusual for this office holder to have cut their teeth in either Benefits or Compensation.

The complete year-end payroll checklist for small businesses

Homebase

Year-end payroll : It’s a doozy, especially when you’ve got so much on your plate with the holiday rush. Simply follow this checklist to mark off all the boxes and close your payroll process faster so you can enjoy the holidays and prepare for 2022. . Run year-end payroll reports.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

HR vs. Payroll: What’s the Difference?

Zenefits

Payroll and HR often work together, but seeing where the line gets drawn can be challenging. With small teams, HR can handle payroll, making the lines even blurrier. What are payroll functions? Payroll is typically a department within finance or human resources.

Hiring a Compensation Consultant: 7 Steps for Nonprofits

Astron Solutions

Your nonprofit organization might find that it needs some outside guidance around compensation for any number of reasons. Lowering turnover , strengthening your recruitment strategies , and conducting custom sector surveys are all common reasons for nonprofits to hire a compensation consultant. For these organizations, hiring a nonprofit compensation consultant is the best choice. Here’s what we’ll cover: Steps for hiring a compensation consultant.

Charting Your Course Through Changing Regulations

Speaker: Bonnie Treichel, Senior Consultant & CCO, Multnomah Group

The world of work is changing. Today it is easier than ever to have employees in multiple cities across several states. Multistate offices used to be reserved for very large employers, but with today’s technology, even smaller employers can embrace this game changer. For employers, the multistate workforce allows the opportunity to cast a broader net to attract the best and brightest talent to the workplace. At the same time, it comes with challenges, including compliance with a variety of rules and regulations across different states and municipalities – some of which may conflict with federal law – and failure to comply could be quite costly.

What Is a Highly Compensated Employee?

Patriot Software

If your company offers retirement plan options, you have to ensure each employee can benefit equally from the plan. To do this, you must consider who is a highly compensated employee (HCE). Not familiar with highly compensated employees? Payroll

Benefits of Compensation Analysis

Decusoft

It is important to conduct compensation data audits frequently in order to produce an equitable and appropriate compensation plan. Compensation benefits research is necessary to ensure fair working conditions and helps improve employee retention plans. Other retirement plans.

5 Reasons to Outsource Payroll Through a PEO

Tandem HR

If you outsource your company’s payroll, what type of service are you using? A Professional Employer Organization, or PEO, can provide you with payroll services and many other HR advantages. Here are five reasons to outsource your payroll through a PEO. Retirement.

Phased Retirement Strategies – Benefits and Implementation

Tandem HR

If you have any nearing retirement – this article is for you! Every day, approximately ten thousand employees reach retirement age in the U.S. Employers must manage this exodus by considering phased retirement strategies. Benefits of a phased retirement program.

Employees Want Better Benefits, Study Shows They're Willing to Leave Current Job for Better Retirement Options

Guideline

One of the top reasons small business employees leave jobs is to get access to better benefits and retirement options, according to a new study by Zenefits. According to data from Zenefits, the top five reasons employees quit their jobs are: Higher potential earnings Poor interpersonal relationships Personal life changes Better benefits packages (health, dental, insurance, and retirement) Promotion or increased job responsibilities elsewhere Source: Zenefits’ Turnover Survey 67.8

Payroll Audit: Objectives, Process & Checklist

Analytics in HR

Organizations need to make sure that they’re paying their employees correctly and on time and comply with employment laws and payroll regulations. If you don’t have your payroll in order, you won’t have a company much longer. A payroll audit is an excellent way to ensure this.

Best Retirement Plans – Broken Down By Rankings

Thrive Global

There was a time when workers could depend on an employee pension plan and Social Security to cover their retirement expenses. ?Nowadays, Maybe this is why one in four Americans haven’t saved anything for retirement. Payroll deduction IRA. retirement? retirement.

Payroll Software Pricing in 2022

TrustRadius HR

Payroll is the lifeblood of HR. So if you want to maintain the peace and not break the bank doing it, check out these payroll options. What Does Payroll Software Do? Payroll software automates, simplifies, and streamlines the payroll process. QuickBooks Payroll.

How to Evaluate Your Compensation Plan

Zenefits

Whether you are recruiting new employees or focusing on employee retention , a solid compensation plan is key to finding and keeping top-quality employees. That means a regular review of your compensation package should be a top priority. Total compensation. Automate payroll.

Understanding Payroll Taxes: Payments, Penalties, and Deadlines

Netchex HR Blog

Taxes are a major part of the payroll process. Payroll taxes help your employees manage their annual tax burden, and by checking all the paperwork, ultimately prevents costly fines for your business. What are payroll taxes? Payroll taxes are deducted from your employee paychecks.

How Congress can turbocharge small business retirement savings

Guideline

 They also are expecting access to healthcare, paid leave, flexible and remote work arrangements, and retirement savings. However, with the passage of the Enhancing American Retirement Now (EARN) Act by the Senate Finance Committee and the Securing a Strong Retirement (SECURE 2.0)

Core components of Payroll | The Actual Payroll Process

Keka HR Blog

Payroll is a financial record of compensation paid to an employee as salaries, wages, bonus, or deduction. Payroll processing is referred to as the administration of an employee’s financial records as well as involves tedious routine work. What is Payroll Processing?

Six Considerations When Evaluating Your Compensation Strategy

Tandem HR

While compensation is only one factor for recruiting and retaining talent, it is critical to your overall HR strategy. Whether initiating or updating your compensation strategy and philosophy, the following best practices may help guide your process and decisions.

The Best Payroll Software For Small Businesses

TrustRadius HR

The average small business owner spends nearly five hours per pay-period processing payroll (Try saying that five times fast). 65% of small business owners said they would rather outsource their payroll processing. 45% said that outsourcing payroll was too costly.

Onpay 83

Using A PEO Retirement Plan: Is It Worth It?

Genesis HR Solutions

When we talk to prospective clients about our PEO’s retirement plans, they’re sometimes skeptical about the value of using them, especially if they already have their own plans in place. They wonder: Is switching to a PEO’s retirement plan worth it? Access To A Leading Retirement Plan.

The Best Way to Process Payroll [Updated for 2020]

SwipeClock

Payroll is one of the most important processes to handle correctly. Learn to Process Payroll Efficiently and Legally. We’ve created a comprehensive 5-part payroll processing guide to help you. How Payroll Processing Works. Best Practices For Processing Payroll.

How To Process Payroll Checklist?

CuteHR

Payroll processing may be a complex undertaking, which is why many businesses utilize payroll software and outsource payroll processing to a payroll provider. The Payroll Checklist: What’s Included? You can store payroll documentation in a few different ways.

Thinking of Expanding into Mexico: Payroll Essentials

Immedus

If a move to Mexico is on the plans, here are some key payroll considerations. Setting up payroll in Mexico. To operate payroll in Mexico, you will need to follow these steps. Payroll Essentials. Payroll taxes. Global Payroll

5 Payroll Management Tools Every HR Needs

HR Digest

For any business, a handy and adequate Payroll software application is a must-have. These payroll apps not only consolidate the multiple payment processes required into one platform but also offer numerous tools for economic and precise payroll functions.

It’s time to review your compensation strategy

Business Management Daily

Payroll constitutes a significant (if not the largest) expense at most companies. As in-house opinions regarding employee compensation practices vary, smart businesses spend time developing a compensation strategy as a vital component of their overall business strategy.

Is an HSA the New 401(k) When It Comes to Retirement ROI?

Extensis

Costly medical expenses and confusion about benefits language are leaving employees feeling discouraged about their healthcare and retirement options. Employers save 7.65% on federal payroll taxes on employees who contribute pre-tax payroll deductions to their HSAs.

The essential guide to payroll in the Philippines

Ascender

Whether you’re considering setting up payroll operations in the Philippines, or you’re joining an established team there, you’ll need to be across the basics of payroll compliance. Overview of payroll requirements. Quirks of payroll in The Philippines to take note of.

Payroll Best Practices for 2022 and Beyond

Payactiv

Whether a monthly, bi-weekly, or weekly pay schedule, payroll is typically done via a payroll system. If that’s how payroll currently operates in your organization, why not make 2022 the year to make a change? What Is Payroll Management? Automate Payroll.

12 Best Payroll Software Solutions for Small Businesses in 2022

ConnecTeam

Don’t you just LOVE managing payroll? Who here just can’t wait for that time of the month (or week) to calculate employee wages , PTO, taxes, benefits , and all those other super-fun payroll things? Our Top 3 Payroll Software Picks. The 12 Best Payroll Software Solutions in 2022.

Stay on track with this payroll compliance checklist

Business Management Daily

Payroll compliance is no small task. Everyone knows that executing payroll accurately and on time is important, after all everyone wants to get paid for their world. Payroll compliance checklist for onboarding new hires. Provide FLSA and EPA compliant compensation.

From Hire to Retire…Technology Overview

NGA Human Resources

Two of management’s biggest challenges are effectively onboarding and offboarding—respectively, the seamless integration of new workers into the system and the removal of those retiring— while ensuring that the company consistently maintains the capacity for achieving its mission and business goals. How does your company approach the hiring and retiring of employees? There’s no escaping the workplace reality that jobs are terminated as employees reach retirement age.

Small Business Payroll Guide: Utah Wage Payment Laws

Helpside

Employers implicated in a wage dispute must grant the UALD access to all payroll records in any place of business or establishment that is covered by the UMWA. The post Small Business Payroll Guide: Utah Wage Payment Laws appeared first on Helpside.

Top 15 Compensation Management Tools in 2021

Vantage Circle

Companies consider several factors when deciding on a compensation planning tool. In layman’s terms, compensation management software allows an organization to plan and administer employee compensation packages in an organized manner. CURO Compensation. Payroll Entry.

How to Create a Compensation Strategy: A Complete Guide

Decusoft

What is Executive Compensation? . Executive compensation programs are influenced by a variety of factors today. As a compensation manager, your primary concern should be the alignment of pay and performance. Compensation Strategy Allocation . Other retirement plans.

7 essential retirement plan questions

Insperity

It’s no secret that current and prospective employees want their employer to offer a retirement plan. Whether your company is looking for a new retirement plan provider or reviewing your current retirement benefits, the first thing you need to understand is one size does not fit all.

Seven ways payroll errors impact your staff – and how to avoid making mistakes

cipHR

A simple payroll error could have a significant effect on someone else’s daily life, and they may even decide to leave your business. Here’s how your payroll mistakes affect employees – and what you can do to eliminate these errors. How payroll errors impact your people.

What Are Payroll Costs – A Quick Overview

Payactiv

Payroll expenses are the costs associated with compensating people for the work they do for your business – whether they’re full-time workers, hourly workers, or contractors. An Explanation of Payroll Expenses. This portion of your payroll expenses goes to paying hourly workers.

What Are Payroll Liabilities?

Abel HR

If you’ve ever run your own payroll, you know what a huge undertaking it is. Indeed, these so-called payroll liabilities are defined as any type of payment owed as a result of running payroll. The post What Are Payroll Liabilities?

5 Key Elements to Look for in a Payroll Platform

Hireology

Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. .

5 Key Elements to Look for in a Payroll Platform

Hireology

Payroll and related costs can make up 50 percent – or more – of total business costs, so it’s critical to ensure you’re partnering with the right payroll platform to avoid costly errors and drive efficiency across your business. .